The Forces Behind the Digital Transformation - Inductive Conversations
Jeff Winter from Microsoft joins Don Pearson for an interesting discussion on the forces that drive Digital Transformation. They will dive in and discuss the forces of consumer demand and government investment into manufacturing. Jeff and Don will also talk about the power of innovation, the ongoing impact of artificial intelligence, and how to harness the never ending stream of data.
Questions Jeff answers in this episode:
What role do consumers play in regards to Digital Transformation?
From a consumer standpoint - what is important to them?
What role do governments play in the advancement of Digital Transformation?
Can you name any specific examples of where governments have helped provide value to companies to help give a competitive advantage?
As part of the Digital Transformation, organizations are investing heavily into innovation. How important is it to have a culture of innovation to help an organization reach its maximum potential?
Do you feel that organizations will continue to make innovation a priority?
Artificial Intelligence and machine learning, are these technologies crucial for an organization to achieve Digital Transformation?
With AI becoming more widespread, are there any concerns or reservations with this technology? What are some ways to mitigate risks that AI could pose?
What role does data and having a data strategy play in achieving success?
What are some hesitations for some organizations to embrace digital transformation and unlock the vast potential of their data?
Sources Referenced:
Harvard Business Review - Competing in 2020: Winners and Losers in the Digital Economy: https://hbr.org/resources/pdfs/comm/microsoft/Competingin2020.pdf
PWC - How business leaders can raise their Digital IQ. 2022: https://www.pwc.com/us/en/tech-effect/cloud/digital-iq.html
IBM - Consumers want it all: Hybrid shopping, sustainability, and purpose-driven brands: https://www.ibm.com/downloads/cas/YZYLMLEV
Harvard Business Review - Research: Actually, Consumers Do Buy Sustainable Products, 2019: https://hbr.org/2019/06/research-actually-consumers-do-buy-sustainable-products
Pitney Bowes - Digital transformation has become critical in improving customer experience 2017: https://www.pitneybowes.com/content/dam/pitneybowes/us/en/customer-engagement/infographics/digital-transformation-and-customer-experience-infographic.pdf
Germany Trade & Invest - Industrie 4.0 - Smart Manufacturing for the Future, 2014: https://wise.co.th/wise/References/Creative_Economy/German_Industries_4.pdf
Manufacturing USA History: https://www.manufacturingusa.com/pages/history
Manufacturing USA - Highlights Report, a Summary of 2021 Accomplishments and Impacts: https://nvlpubs.nist.gov/nistpubs/ams/NIST.AMS.600-11.pdf
McKinsey - Innovation and Commercialization, 2010: https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/innovation-and-commercialization-2010-mckinsey-global-survey-results
CB Insights - State of Innovation Report, 2018: https://www.cbinsights.com/research/report/state-of-innovation-2018/
‘Chief Innovation Officer’ role: Miller, W. and Morris, L. Fourth Generation R&D - Managing Knowledge, Technology, and Innovation, Wiley, 1998.
Harvard Business Review - What Kind of Chief Innovation Officer Does Your Company Need?, 2019: https://hbr.org/2019/11/what-kind-of-chief-innovation-officer-does-your-company-need
IDC FutureScape: Worldwide CIO Agenda 2020 Predictions: (accessed 40% statistic through https://alcorfund.com/insight/latest-innovation-statistics-and-facts-2020/)
Deloitte Digital - Ten Types of Innovation: https://www.deloittedigital.com/content/dam/us/confidential---legacy-assets/dd-marketing/general/300---pr---communications/330_-_dd_com_website/051-offerings_detail/doblin-transition/10-types-of-innovation/design/pdf-updates/offering-20221202-doblin-10-types-brochure_download-01.pdf
Stanford University - Rosenberg, Nathan. (2006). Innovation and Economic Growth. 10.1787/9789264025028-4-en: https://www.researchgate.net/publication/299821348_Innovation_and_Economic_Growth
Acatech - Industrie 4.0 Maturity Index. Managing the Digital Transformation of Companies - Update 2020: https://en.acatech.de/publication/industrie-4-0-maturity-index-update-2020/
The University of Texas at Austin & Sybase - Measuring the Business Impacts of Effective Data, 2010: http://middleman.heltenkelt.se/anvandbart.se/images/drupalbilder/blogsource/div/EffectiveDataStudyPt1-MeasuringtheBusinessImpactsofEffectiveData-WP.pdf
McKinsey & Company - Five Facts: How customer analytics boosts corporate performance, 2014: https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/five-facts-how-customer-analytics-boosts-corporate-performance
