24 May 2019
It is a no-brainer that Digital Transformation if done correctly, has the potential to be drastically life-changing for a business. It can help you garner notable and authentic benefits. As optimistic as it is, it is not a shocker to get caught up in the hype.If you want to lead your organization’s technology transition, the first step is grasping the realities of digital transformation — rather than falling prey to the hype. Some step out of line and not think through the lowdown of implementation until what was promised could not be delivered.
The underlying concepts and strategies of digital transformation are not new. Companies are increasingly launching initiatives to expand or build digital capabilities that deliver business efficiency or top-line revenue growth. But the progress of digital transformations varies. Ruminating the concept of digital transformation has become an agonizing feat for CIOs, many of whom view it as a mantra that has become confusing at best and meaningless at worst.
Many companies hope to achieve the innovation, profits, and streamlined processes that digital transformation promises. However, they often find there is ambiguity about digital transformation from customers, partners, and business colleagues. To help separate what’s fact and what’s fiction, we’ve condensed our point of view into a few myths about digital transformation. If you grasp these common misconceptions, you’ll be on your way of achieving true digital transformation.
Myth #1: It is okay if Digital Transformation isn’t a priority
The rate at which technology is emerging is burgeoning shows that if digital transformation is delayed, it is only going to get more difficult later down the line. It would not be pleasant to see a competitor get ahead in the race whilst you are still in an anodyne place. It’ll also be much more expensive than it is now to switch to digital. You don’t have time to wait.
Even at Crrux, we believe that this is the time to make headway and be active. We plan on setting an industry standard for a consumer-centric and leaner way of doing business. We listen to our customers and motivate them to re-explore their vision and push boundaries. We strategize on making our mark in history as a cutting-edge enabler of a digital workplace.
Myth #2: Digital transformation is only for IT companies
People often misconstrue that digital transformation is only for software based or tech companies. This is stereotyping at its best. You don’t even have to be remotely related to the tech field and still, Digital Transformation will improve your business irrespective of industry. Speaking of B2B industry, it was no time before Amazon would have completely sidelined Walmart but Walmart acted in time by changing its online return policies to make things easier for consumers, offering the lowest prices, and promoting the fact that you don't need a membership to order online (this latest ad hit right when Amazon increased Prime memberships). In addition, the Walmart mobile app continues to improve the customer experience. The latest update allows customers to add up the costs (including sales tax) on their shopping lists before they even leave the house. Once a customer gets to the store, they can interact with the app's "store assistant" to guide them to items on their list via a map.
The Harvard Business Review sums these efforts up nicely: "Walmart is increasingly becoming a 'digital winner', as it builds out a fast-growing E-commerce business and also leads to digital innovations when compared to other brick-and-mortar retailers."
Myth #3: Digital Transformation means getting rid of people
It is unequivocally proven that Digital Transformation uses AI and Machine learning abilities which are at an all-time high and may be interpreted as that digital transformation means a handful of roles for humans. Even though AI and Machine Learning are going to get colossal in the near future, human beings will still be in demand.
There is no shortage of angst when it comes to the impact of AI on jobs. For example, a survey by Pew Research Internet finds Americans are roughly twice as likely to express worry (72%) than enthusiasm (33%) about a future in which robots and computers are capable of doing many jobs that are currently done by humans.
However, at least one set of experts believe jobs will be shredded, but not eliminated. Instead of worrying about job losses, executives should be helping to reduce jobs in which AI and machine learning take over boring tasks, while humans spend more time with higher-level tasks.
Debunking these myths was important because of Digital transformation has never been more important for us at Crrux and our customers than it is now. Now that these are out of the picture, we can focus on what is really important.
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