Privacy, Digital Twin and digital product management must become the focus areas for organizations.
Disruptive innovation in the digital space is making new waves. Digital initiatives topped the list of priorities for CIOs in 2019, with 33 percent of businesses now in the scaling or refining stages of digital maturity — up from 17 percent last year, according to Gartner.
Industry experts assure that digital is here to stay for a long time, with most organizations already transforming their processes and outlook to move in towards the digital world.
However, digital transformation efforts may always not yield the desired results. There are rapid and sustained changes that underscores a digital business.
Ganesh Ramamoorthy, Managing Vice President, Gartner Research, says that organizations need to focus on some of the key aspects while embarking on digital transformation journey.
Clearing Privacy Concerns
Protecting privacy will continue to a core issue for businesses in the coming years. India is already working on the draft of data privacy, similar to the GDPR and the regulations followed by other countries around the world.
“Being able to transparently let the customers know of how businesses are going to gather information from them and what those information is going to be used for is going to be very important in future. Companies will need to take that into consideration while they embark on their digital journey,” says Ramamoorthy.
Transforming the culture within organization
“it is also critical to transform the culture within organization to be more adaptive and more receptive to the digital trends and digital technology that is taking the world by storm. Adapting to these trends is going to be major challenge for many organizations in the country. Putting processes in place, putting training programs in place, putting in the essential practices in place is going to be very important,” he adds.
Digital Product Management
Digital product management is going to be another key element for organizations to move into the digital business world.
“Thinking about every IT project they talk about as product, allows them to continuously enhance and provide additional features and functionality to the project they are working on. Therefore with a product mentality and product mindsight at the background, what they essentially do is to create a medium to continuously enhance and change. Because the technology rapidly advances or the requirement from the customers or the demand from the customer changes all the time.”
Digital twin is soon going to be catching up in the Indian industries and companies. “Of the companies that we have surveyed 16 percent of them have already implemented digital twin, 70 percent more is going to implement in one year time period. Digital twin not only enhance organization’s ability to capture real time data but also use that data in real time to enhance processes and improve efficiency.”
Augmented intelligenceAugmented intelligence will be another building block for digital businesses. “Enhancing capabilities and human functionalities using AI tools and machines and robots is going to be major trend, which essentially is going to increase human productivity,” Ramamoorthy sums up.