Most business leaders believe that digital technology exists to serve businesses. While this was true 10 years ago, it’s no longer the case.
So what’s changed?
The exponential growth in data and digital information. It grows faster than most companies can manage, access, process, analyze and react to it. Strangely, few people noticed. In this time of crisis, digitally transformed companies are managing well, even thriving. While those “untransformed” are severely impacted. Many will not survive, and those that do will have fundamentally different DNA on the other side. Companies must get ahead of the problem and transform their business to work in symbiosis with digital technology.
AI is useless if your data is garbage
Take Artificial Intelligence for example. AI algorithms require clean, accurate and relevant data. If a company is not properly structured to provide that clean, accurate and relevant data then AI is useless no matter how good the algorithm. In other words, a business needs to be properly transformed to serve digital technology, then the digital technology will properly serve the business. Symbiosis.
And that is the key to thriving in future crisis situations in the digital age.