BCG X’s Post

Today, we are at the threshold of a new wave of change in the role of corporate IT, where IT is becoming a more strategic adviser to the business — driving innovation rather than being just a provider of IT services. Arthur D. Little discusses below:

Today, we are at the threshold of a new wave of change in the role of corporate IT, where IT is becoming a more strategic adviser to the business — driving innovation rather than being just a provider of IT services. Please see our latest paper on the topic below - happy to discuss with you and get your view on the role of IT nowadays…

Digitalization continues to transform business and society, with technologies like AI accelerating the pace of change once again. Already, the distinction between business and IT functions is blurring — and heading towards further alignment. Thus, corporate IT functions need to be proactive in recognizing this ongoing integration and evolve to become true strategic business partners. Doing this requires a comprehensive approach that addresses all the necessary building blocks. Above all, CIOs need to ensure they don’t neglect the human dimension. Without the necessary shifts in capability and culture, corporate IT is unlikely to reach its goals. We discuss here: https://lnkd.in/dYTVaphw #digitalization #innovation #CIO

"The reason digital transformation often failed to produce substantive improvements isn’t because digital transformation doesn’t work, but instead because companies never truly strived for transformation." - Brian Solis Companies often miss the opportunity to use new technology to truly transform their business strategies and models. They tend to update their technology but not fundamentally change how they do business to fully embrace the digital age. When digital transformations fall short, it can have serious negative effects. These might include wasted investment, missed opportunities, and potential damage to a company’s competitive position. Action items for decision makers might include ensuring that there are clear and strategic objectives, effective management of changes in company culture, processes, and employee skills, and adequate integration with existing systems and processes to avoid disruptions. #digitaltransformation #innovation #business

I recently read an insightful article on the shift from #digitaltransformation to #businessmodel innovation. it's no longer enough to stay competitive. Instead, businesses must now focus on innovating their business models to create and capture new value. This involves leveraging #digitaltechnologies not just to improve existing processes, but to fundamentally rethink how value is delivered to customers. The successful companies are those that continuously adapt their business models in response to changing market conditions and technological advancements. For instance, it mentions that 70% of executives believe their business models will be more digital in the next three years. Additionally, over 50% of companies are already experimenting with new business models to stay ahead. This perspective resonates with my experience in #digitaltransformation and #sustainability, emphasizing the need for a holistic approach that integrates #technology with innovative #businessstrategies. It's a timely reminder that in our rapidly evolving landscape, agility and innovation are key to long-term success. #digitaltransformation

🛠️ Embracing the Future: Why Digital Transformation is Not Just an Option 🛠️ In today's fast-paced world, digital transformation isn't just a buzzword; it's an imperative. Companies that fail to adapt risk becoming obsolete. Digital transformation is about more than technology—it's about rethinking how your organization delivers value. From enhancing customer experience with advanced analytics to automating processes for increased efficiency, the opportunities are endless. But remember, successful transformation requires a cultural shift. It's essential to foster an environment where innovation thrives and employees feel empowered to drive change. How is your organization adapting to the digital era? Are you leveraging AI and automation effectively? Share your experiences and challenges in the comments! Let's discuss ways we can collectively steer our organizations towards a digital tomorrow. 🔗 #DigitalTransformation #Innovation #FutureOfWork

Nice article from Brian Solis and CIO.com... over the years, I wish I had a $ for the times I have explained or had to help my audience realise and understand that it's a need for [digital] transformation or more over innovation not [digital] replication. The end of digital transformation and the rise of business model innovation https://lnkd.in/gq48EJNg

The end of #DigitalTransformation and the rise of business model #innovation ▪️Digital Transformation is “the use of technology to radically improve performance or the reach of businesses.” ▪️The reason digital transformation often failed to produce substantive improvements isn’t because digital transformation doesn’t work, but instead because companies never truly strived for transformation. ▪️Business and operational model innovation is necessary to adapt to today’s opportunities while also creating a culture of adaptation and innovation for the coming waves.

Forrester today announced the full conference agenda for Technology & Innovation Summit EMEA, held in London and digitally, October 9–11, 2024. While the potential of #GenerativeAI (genAI) to enhance efficiency and innovation is evident, tech leaders must strike the right balance, leveraging emerging technologies like automation and #genAI to fuel innovation while also making sure to avoid stifling it. They need to understand where #AI can make the most significant impact and identify the necessary resources for effective implementation. https://ow.ly/WW2I50TeIUJ

I don't think the term digital transformation is going anywhere any time soon. In the current landscape, many people who use it are referring to business model transformation, however, there are still plenty of organizations that believe all transformation needs is digitization. "Those who struggled during the digital transformation years will continue to fall into the same traps in an era of AI-first transformation if they don’t change what got them stuck in the first place." #DigitalTransformation #Innovation #BusinessTransformation