The Tech Revolutionist, Singapore: Co-Director of Cognizant’s Center for the Future of Work Says Companies Must Align Digital Initiatives With Changing Industry Dynamics and Customer Needs

“To make the most of their digital initiatives, organizations need to implement new business models and new ways of working,” writes Ben Pring, Co-Director, Center for the Future of Work, Cognizant, and coauthor of “What to Do When Machines Do Everything: How to Get Ahead in a World of AI, Algorithms, Bots, and Big Data” (Wiley, February 2017). Excerpts:

“Too often, organizations take the easy way out by “doing digital” instead of “being digital.” They mistake the superficial usage of digital technology as digital transformation. This jamming of fourth-generation technology into third-generation business models is quick, cheap and low risk. However, it doesn’t bring any real added value to the business.

Some enterprises try to mimic technology unicorns such as Facebook, Amazon, Netflix and Google. However, in most cases, not only does this approach not work, but it also turns out to be highly counterproductive. Different companies have different starting points, face different business challenges, and eventually have different goals and success metrics in their digital transformation journey.

Many highly ambitious management teams decide to go “all in” on digital. Although well-intentioned and in many cases, very well-resourced, broad-brush change initiatives don’t work. For 80 percent of other companies, starting small with clearly defined metrics and a concrete action plan is a better approach.

Many fall under the category of deniers, who like to believe that they will not be affected by the digital wave sweeping the world. Such thinking is dangerous because those who voice this sentiment are usually in industries that have not been fully touched by digital yet.

For companies looking to drive meaningful change, it’s important to make sure that any digital initiative is aligned with changing industry dynamics and the shifting needs of their customers.”

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