New Era of Digital Transformation and GenAI: Embracing Change for Competitive Advantage
Past: Lack of leadership support, cross-functional collaboration, and proper governance kept silos not only intact but fortified.
New: Now leaders are all-in, at least according to earnings calls. Hold them to task. Push for vision and desired outcomes. And make the case for ongoing support to bring tech and business decision-makers together.
Past: Roadmaps underestimated the complexity of integrating new technologies with legacy systems. GenAI offers so much opportunity in everyday and also game-changing applications.
New: Platform players now make it possible to connect the dots across systems, extract value from legacy systems, allow cross-system workflows and data to inform AI on optimization. Find your trusted partners and build against a vision for business model innovation while finding opportunities for quick wins, differentiated use cases, and transformative initiatives.
Past: Most companies possessed a deep inability to adapt to disruptive innovations or cling to legacy business models by design.
New: Digitization didn’t challenge conventions; that all must change through definitive, innovative leadership and culture initiatives supporting transformation.
Past: Employee adoption of new digital tools faced opposition due to various reasons including cognitive biases and a desire for familiar methods.
*New: AI requires ambitious investment in people; 21% of organizations spending $50+ million on AI next year have already trained more than a quarter of their workforce. Leaders, too, need upskilling with a majority lacking confidence in GenAI proficiency.
With a changed mindset and concrete actions, true business transformation is possible; use AI to transform systems from record-keeping to actionable processes, connecting the organization and its work.
Invest in everyday AI to improve productivity by removing routine tasks and empowering people for more value-added activities.
Rethink critical functions to enhance efficiency and effectiveness; explore new opportunities for creating value through innovation focused on customer and employee experiences.