13 Jun 2017

“41% of Organizations are Already Investing Into AI” – Forrester Digital Transformation Forum 2017

by Ciklum

Digital transformation is on the minds of every CIO. Forrester predicted the digital transformation budgets to top the billion dollar mark in 2017. So here we are in 2017, ready to start the digital transformation of our business. But how? This was the main topic of the recent Digital Transformation Europe 2017 Forum by Forrester, an event in London to re-invent products, processes, technologies and cultures through digital transformation. Ciklum team has attended the forum and brought you the five pillars to start transforming your business digitally from.

 

1. Customers

What do innovative companies make different? They were born Mobile and are Value Customer-obsessed. How can one reach it?

  • Build flexible organizations with cross-functional teams
  • Test and learn with velocity to drive innovation
  • Don’t skimp on high-powered talent
  • Own and build core services in-house, but license when you need speed

“We are delivering experiences, not products. We are not exposing what our mainframe
delivers to a screen” — Luis Uguina, Chief Digital Officer of Macquarie Bank

 

2. Business Models

Stop using digital to improve the current operating model. Digital Transformation is business transformation.
Digital reinvents everything. It is important to know that Digital experience and digital operations are the key. It drives double digit growth.

CIOs prioritize improving IT capabilities to promote agility and innovation. CMOs prioritize defining a digital strategy. CEOs prioritize evolving the business model.
Don’t break the rules, re-invent the game.

 

3. Teams

The closer your business comes to the digital transformation, the more critical a human factor becomes.
The successful digital enterprise requires more than up-to-minute technical expertise.

“We hire for mental agility. When you are constantly using new technologies, you can’t find experience. We place a premium on people who can learn quickly” — Bill Magnuson, CEO/Founder, Appboy

 

4. Tools

Design your roadmap for AI:

  • Identify the most promising opportunities – and be aware of your competition
  • Take an end-to-end process view – and look across processes
  • Start the conversation about legal and ethical issues of AI at the board level

 

5. Strategy

Digital Transformation is not a one-time thing.
Your digital transformation roadmap should be based not on the current state of your business, but the future state of your customers.

  • Build powerful cross-functional relationships
  • Build holistic customer experiences
  • Start small, but think big

“If a customer has to open our app, we have failed. We have failed to anticipate the need of our customer and push out information proactively” — Chris Hulls, CEO/Founder, Life360

 

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