Unless you truly aren’t aware, or have slept under a rock, you will have heard of the “viral” sensation that is ChatGPT. That is one hyped up technology you could adopt in your organisation. Along with that hype and tool, there are other technologies you can look to implement and adopt. The current technology landscape is expansive. It may be a bit difficult to decipher and understand what you and your organisation should start doing and what it maybe should stop doing.
Technology is a key component for digital transformation. I can utilise the ChatGPT technology to get us a definition of digital transformation:
“Digital transformation refers to the profound and often disruptive process that organisations undergo when they adopt and integrate digital technologies, strategies, and culture into various aspects of their business operations, models, and interactions. It’s not just about incorporating technology into existing processes; it’s a comprehensive overhaul that reimagines how an organisation operates, delivers value, and engages with customers, employees, and other stakeholders. Digital transformation typically involves leveraging technologies such as cloud computing, data analytics, artificial intelligence, Internet of Things (IoT), automation, and more. The goal is to enhance efficiency, agility, innovation, and customer experience while potentially gaining a competitive edge in the rapidly evolving digital landscape.”
I would say ChatGPT did a good job.
While we can write all we want about technology and digital transformation, the reality is, digital transformation undertakings aren’t that successful. According to a McKinsey article:
“Years of research on transformations has shown that the success rate for these efforts is consistently low: less than 30 percent succeed.”
This is an interesting metric. For organisations to really be successful in this day and age, they need to digitally transform and adopt technologies that empower them and their workforce. But we are sitting with this dilemma of needing to invest but the strategies aren’t working well. One may ask: what is to be done to help digital transformation?
In a series of blog posts, Data and Analytics Leader, Jordan Morrow, will help illuminate how to be more successful with digital transformation and how to be more data driven. As you think about these blog posts, ask yourself: what am I, and my organisation, doing with digital transformation?