3 Ways You Can Eliminate Silos to Accelerate Digital Transformation
To accelerate and gain the benefits of digital transformation, organizations must know how to eliminate the 4 primary types of silos: data, technology, content, and departmental. These silos can cause data security and regulatory compliance issues, reduced productivity, underutilized or inconsistent data, poor visibility, and lack of innovation. To eliminate these silos, organizations must create better collaboration across the organization, involve key business stakeholders in planning and strategy meetings, expose employees in every department to innovative solutions and ideas, and enforce an enforceable change management protocol. Implementing a well-organized change management plan from Day 1 of any new technology is critical, as it’s not just about the technology; it’s about the people. Digital transformation doesn’t have to be impossible, but it must be done wisely. To ensure success, businesses should create buy-in with a dedicated change management team or ambassadors, a clear communication plan, defined timelines/milestones, necessary training, and hands-on involvement. Additionally, they should evaluate their current tools and technology and identify what data and insights they seek. Finally, they should seek opinions from key stakeholders in the organization and ensure early adoption across the enterprise. Identifying and then eliminating silos allows businesses to meet goals, create efficiencies, grow smarter, and problem-solve faster. Source: inc
The ‘North Star’ of Digital Transformation is a ‘Data First’ Strategy: HPE CEO
The “North Star” of digital transformation, according to Antonio Neri, president and CEO of Hewlett Packard Enterprise, is a “data first” strategy. Neri examines the need of aligning strategic, organizational, and technological decisions with the overarching goal of exploiting data as a strategic asset in a piece he wrote for the World Economic Forum Annual Conference. He references research showing that the average company had a data maturity score (the capacity to produce value from data) of only 2.6 out of 5. This suggests a lack of fundamental capacities for doing so, which in turn hinders firms’ capacity to create crucial results including increasing sales, innovating, expanding customer experience, increasing environmental sustainability, and raising humanitarian standards across their supply chains. Neri’s answer is to bridge this divide by achieving a high level of data maturity and strengthening control over that data leading to a new “digital divide” where companies who take a data first approach have a strong lead against competitors who are disconnected with the power of their data With the ability to access, control, protect, govern, and unlock the value of data regardless of where it is generated or housed, he predicts that enterprises will emerge as data platforms in their own right. Neri advocates for decentralized, scalable data architectures that facilitate cross-organizational and cross-national sharing of data and analytics without compromising on privacy or control. To unlock the value from an organization’s data, Neri recommends several actions to start: defining a data strategy with clear objectives aligned with the organization’s overall goals, assigning strategic investments to data initiatives, appointing a senior-level data officer with accountability for the data strategy, creating an effective architecture to manage data end-to-end securely, and establishing the skills to master advanced analytics methodologies. Source: weforum
Forget digital transformation: data transformation is what you need
The founder of Eggcelerate, Stefano Maifreni, discusses why it is important for business organizations to focus on data transformation to maximize long-term value. He defines digital transformation as using new technologies to restructure an organization and its processes to improve efficiency and meet customer needs. Digital transformation initiatives can involve IT modernization, process automation, cloud technology, artificial intelligence and machine learning, and transforming communication with customers. Data is the cornerstone of any successful digital transformation strategy, and it is important to understand how your organization uses data to optimize data usage and apply analytics and insights to drive better business outcomes. Without a data strategy in place, your organization will likely struggle with leveraging data for digital transformation efforts. Digital transformation is vital for businesses to restructure their processes to meet customer needs and improve efficiency. To leverage data for digital transformation efforts, organizations must understand their data sources and determine which data sources they need and where they can find them. They must also consider how to best process, analyze, and transform their data to maximize its value. Finally, they must identify which data transformation initiatives will impact their organization most and ensure they have the necessary resources and budget to make these efforts a reality. Data transformation is an entirely new way of doing things that requires organizations to come up with innovative methods for gathering data and turning unusable data sources into something valuable. Source: information-age 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow
Accelerating Digital Transformation with an integrated hybrid multi-cloud strategy
The Hybrid Multi-Cloud strategy is a key enabler of digital transformation since it allows flexibility, Agility, inclusiveness, and sustainability. It enables enterprises to deploy workloads across different cloud environments in order to maximize return on investment while avoiding the risks associated with particular cloud environments. Hybrid Multi-cloud is a widely used cloud implementation technique that combines at least one private cloud and two or more public cloud architectures. Hybrid Multi-Cloud Architecture prevents vendor lock-in and achieves worldwide regulatory compliance. It also ensures cloud interoperability, agility, and adaptability. RESTful APIs, containers, and Kubernetes platforms have modernised legacy systems and boosted hybrid multi-cloud methods. Clouds are built differently due to their physical foundation components, functionality, features, pricing, cost models and policies. Various vendors offer integration and support for various platforms and frequently update the features they have to offer. So, the optimum fit depends on app metrics and workload needs. The Hybrid Multi-cloud infrastructure enables customers to maintain a flexible cloud environment that enables a combination of Scalability, Security, Portability, and cost savings without compromising the performance at the same time. It enables businesses to acquire SaaS, IaaS, and PaaS solutions that suit their custom needs and demands and better respond to future business scenarios. Larger organizations need to leverage developing technology to undertake POC, MVPs, and minimize time to market for production versions of their products by using cloud platform services, especially data-driven AI power services. A hybrid multi-Cloud allows firms go from CapEx (capital expenditure) to OpEx (operating expenditure) and work with the latest emerging technology solutions within days, unlike data centers, which take months. With a hybrid multi-cloud environment, you can simply access many cloud providers’ distinct digital platforms and solutions to public cloud market concerns. All things considered, adopting a multi-cloud strategy can hasten your cloud-led digital transformation. Source: dqindia 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow
Digital transformation in Huawei Cloud: Key steps to a smarter future
Roc Bai, VP: Huawei Cloud Southern Africa, explains that African organizations have an opportunity to leapfrog the rest of the world, but they must advance through their digital transformation journeys now. To achieve operational excellence, enable a hybrid and remote workforce, and deliver insights at scale, organizations should align with top digital transformation trends. Successful digital transformation can create value for business in three key ways: better experience for customers, users, partners, suppliers and employees, improved efficiency in R&D, production, distribution and service, and reduce work costs and management risks. Huawei Cloud is one of the first cloud service providers to install nodes in Africa, as well as the first to establish its network across the continent. Huawei Cloud inherits Huawei’s more than 10 years of industry experience in the ICT field, deeply understands industry scenarios and combines the capabilities of ecological partners to find the right technology for industry customers and do a good job of implementation. Huawei Cloud actively encourages deep digitalization and everything is a service. It invests in infrastructure, R&D and technology investment to accelerate application modernization, and provides industry digital transformation experience to enable industry to go to the cloud. It also releases the latest technologies such as AI and tools for software development, data governance and digital content production, all openly on the cloud. Technology drives transformation and Huawei’s key technologies are the unified cloud infrastructure, unified data lake base, unified integration platform, and unified security control platform. The unified cloud infrastructure speeds up service rollout, provisioning, and implement DevOps. The united data lake base enables efficient decision-making and business value mining, while the united integration platform enables the integration and docking of data, messages and APIs between cross-business systems. The security control platform provides security service capabilities and a security governance platform to help enterprises take into account security compliance and provide escort for business. Digital transformation is a deep business change for an organization and five areas of change are recommended to support it: change of consciousness, organizational transformation, culture shift, transformation of methods, and paradigm shift. Huawei Cloud aims to make the cloud ubiquitous, make intelligence omnipresent, and build an intelligent world cloud base together. It has built a contract management center to realize the capabilities of automatic contract review, global contract review, intelligent response to bids, similar contract recommendation, automatic analysis of terms and conditions and intelligent identification of risks. Source: itweb 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow
How the rise of A2P SMS is shaping Africa’s digital transformation?
Africa is in the midst of a golden age of digital transformation and e-commerce expansion, made possible by the proliferation of A2P SMS (Application-to-Person Short Message Service). As the percentage of people with mobile subscriptions continues to climb across the continent, businesses are searching for fresh and novel approaches to consumer communication. A new study estimates that the market in Africa would be worth $14.2 billion by the year 2025, which is a considerable increase from its present valuation of $6.6 billion. Its expansion is being driven by the increased demand for mobile messaging services across a variety of industries, including retail, healthcare, and banking, among others. E-commerce has also exploded across the continent, with 21% of Africans already purchasing online and that number is anticipated to climb to 40% by the year 2025. The expansion of messaging platforms that provide comprehensive SMS API services, such as SMS.to, will continue, and businesses have a responsibility to make the most of this opportunity in order to improve their communication strategies and propel their expansion. Source: Business Insider 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow
Where 500 CxOs See Digital Transformation Headed In 2023
The Forbes CxO Growth Survey 3.0 surveyed over 500 global C-Suite executives and found that C-suite leaders have an insatiable appetite for cutting-edge tech moving into 2023. CIOs are focused on deploying AI/machine learning, expanding the use of IoT, and implementing augmented reality, while CMOs are mostly focused on increasing investment in cybersecurity, IoT, and AI. CFOs are prepared to invest in AI collaboration tools, and advanced workflows, while CEOs are focused on increasing budget for data and analytics and advanced workflow solutions. CHROs intend to increase expenditure on collaborative tools and improved cybersecurity solutions for the hybrid workforce. Despite uncertainty, interest in emerging technologies is increasing. CxOs are responding to volatile factors, such as cybersecurity threats, regulations & corporate tax rates, inflation and geopolitical instability, by prioritizing cutting-edge tech. The majority of CIOs anticipate that their digital transformation initiatives will be more rapid and expansive in 2023. Nearly half (48%) of CMOs consider investing in Web 3.0 initiatives—even during difficult economic times—is important and guarantees businesses keep up with developing trends and CxOs are so optimistic that they want to invest more money and resources in artificial intelligence and Web 3.0 during the next two years. Furthermore, 45% of CMOs seek to improve cybersecurity, because they believe it is directly related to providing a positive customer experience. When it comes to the supply chain, CFOs are not doing enough to reduce risk. Only 27% of CFOs plan to change their supply chains in the next two years. To optimize supply chains, CFOs will look to four specific areas of opportunity: transitioning to a digitized supply chain, partnering with more diverse suppliers, using data to identify inefficiencies, and repricing in order to meet higher costs. Source: Forbes 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow
3 Stages of a Successful Digital Transformation
The majority of attempts at digital transformations are unsuccessful. Yet, digital transformation has been at the forefront of businesses’ minds for at least a decade, and its momentum shows no signs of slowing down. The three main reasons why digital transformations fail are over-optimistic expectations, poor execution, and the pace of leading and managing the transition between the old and the new. To succeed at digital transformation, senior business leaders must be aware of the three main stages of the digital learning curve. The objectives of the first two phases, modernization and enterprise-wide transformation, are to reshape the existing business. The third phase stage focuses on the development of new commercial endeavors and the identification of untapped potential. It is crucial to avoid proceeding to phases 2 and 3 before completing phase 1, since this can result in failure. Modernization (phase 1) is about simplifying and digitizing existing processes and functions. It may involve automating HR procedures or providing a self-service platform for workers, as well as building apps for customers or introducing new self-service contact points, linking products, or re-engineering fundamental procedures. This phase is frequently underappreciated or despised, yet it strengthens and improves the organization’s digital capabilities, and it offers immediate returns that can support more sophisticated digital initiatives. Enterprise-wide transformation (phase 2) requires extensive work to be done across multiple value chains where traditional organizational silos must be aligned, appropriate governance models established, new talents needs to be added, and a culture of continual learning and re-skilling must be established. Although its primary purpose is to enhance already existing activities, it can also create new value by allowing businesses to access previously untapped markets or improve the efficiency of existing processes. Transformations at the enterprise level are cross-functional and complicated, but they are necessary stepping stones on the road to digital-transformation maturity. New business creation (third phase), new businesses are created with the goal of expanding existing markets or establishing new sources of income. For businesses to thrive in the age of the customer, it’s imperative that they transition their focus from traditional product-based i.e.one-time sales to more dynamic recurring revenue streams like subscriptions. Transitioning from the current model of operations to new ones is fundamental to operations. These alterations challenge the organization’s existing processes, structures, and capabilities and necessitate new methods of operation. Leadership is essential, as this phase also requires redefining the organization’s boundaries as it transitions from linear supply chains to ecosystems. As a result of the nonlinear nature of these three stages of digital transformation, most companies will oversee a portfolio of initiatives that may encompass all three. It is unusual, however, to discover examples of digital leaders in established businesses who have skipped these steps. The key to a successful digital transformation is to take one step at a time and devote the necessary resources to ensure that the transition is completed successfully. An organization’s chances of success can be improved by climbing the digital transformation corporate learning curve and increasing the maturity of its digital infrastructure. Source: hbr 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow
AI success is being limited by poor digital transformation
The success of AI is hampered by insufficient digital transformation, which necessitates rethinking processes and organizational structure to derive maximum value from the technology framework. According to a 2020 study conducted by Boston Consulting Group, 70% of digital transformation projects fall short of their objectives, even when priorities are well defined and leadership is aligned. Factors that lead to failed digital transformation initiatives include identifying the right problems to solve that leads to design of incorrect approach and faulty transformation roadmap that act as a bottleneck for AI success, lack of an overarching data strategy that risk investing in improper tech stacks, lack of integration across verticals and units, and siloed projects that lead to duplicate efforts and wasted resources, as well as employee resistance to change. Additionally, the lack of CoEs and best practices, proper frameworks and approaches, poor execution due to lack of cross-pollination and coordination, and absence of a human-centric, digital-first culture, all these hinder success of AI initiatives. To overcome these obstacles, enterprises must create AI systems that are interconnected across the enterprise, similar to a mesh or fabric, and implement a scalable architecture across the enterprise. This will help the company to take full advantage of the benefits AI can offer and slowly change their business for long-term growth by establishing a solid AI foundation with tools and processes that handle the complete discover-to-implementation cycle. Modular AI architectures offers flexibility and enable the customization of AI solutions to unique business requirements. Holistic AI architecture offers a comprehensive picture of the business and a deeper comprehension of how AI may be implemented in all domains. Scalable data fabric makes sure that it connects to all of the microservices or services in an organization. De-risk AI to handle reputational and performance risks. Agile AI architecture is critical for businesses that must respond rapidly to shifting market conditions and client demands. Agile methodologies have been acknowledged for their ability to enhance teamwork, eliminate silos, and empower decision-making and project management. Like a fabric and mesh, AI must be integrated into all business areas to achieve digital transformation. This will fundamentally transform how the firm runs and provides value to customers. Businesses need to grasp digital transformation to take advantage of its opportunities by breaking down siloed procedures that prevent AI integration and powerful digital transformation Source: Venture beat 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow
Wearables and sensors are the future of medicine
From a sweat sensor that identifies gout to a device that monitors what you eat, wearable technology has advanced dramatically as a result of fusing our senses with sensors, creating a plethora of new opportunities in a variety of business sectors and helping healthcare organizations achieve better patient outcomes, improve efficiency, lower health care costs, and come up with new ways to engage and empower patient. This article sheds some light on how the intersection of wearables and sensors in MedTech is creating opportunities and will be a game-changer for doctors, patients, hospitals, and insurance companies alike. Source: Digital Salutem 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow