The world around us, if you look carefully, is becoming more digital with each passing year. There are new technologies from GPS to social media that are taking over, and artificial intelligence is slowly becoming the primary focus of people despite how unrecognizable the world is from 20 years ago.
At the speed of light, there seems to be a change happening, which is making many people feel a little bit uneasy. The problem is it’s only going to become much faster. Disruptive technologies are accelerating the rate at which this change is occurring, and it’s literally changing how we live every day. If you are a digital native, or even if you’re not, it’s good to behave like people that are well aware of these changes. It is possible, even on social media, and when looking at people that use things like Fitbit, that people that are at a midlife point are also aware of these changes. Even senior citizens are aware that digital changes are occurring from doing video chat calls to reading the newspaper online. As more of us spend time connected digitally together, you can see that this is becoming commonplace, as it is for most people the world over.
These technologies have been morphing into different business models, taking advantage of ways to monetize these shifts in how we live our life from a digital perspective in an attempt to become profitable. Value is certainly delivered, especially when looking at specific products and services, or if you are looking at outcome based propositions through new cross-sections of society. If you can organize your business with the help of Business Support In Hampshire so that your customers feel that you are tailoring their experience to them, they will purchase more of your products and services.
It’s All About All or Nothing
The digital giants of our age, as well as startup companies, are positioned right now to take advantage of the many commercial activities and opportunities that are out there. The confidence that they have, along with their ambition and knowledge, are beginning to reshape everything. In contrast, some incumbents are not ready to do anything more than tread lightly.
Over 400 leaders were part of our National Digital Benchmark report: it was difficult to find ways to prepare incumbents for this disruption on a digital level. Many of these leaders, representing 53% of the people that we interviewed, have clearly stated they overinvest in only what they are good at doing today and will refine or enhance their current perspectives but will completely underinvest in these changes that are occurring.
We are at a point where we are experimenting on an edge, and organizations that are taking part in this digital change of our world are beginning to reshape every aspect of it. Sixty-eight per cent of those that are fully utilising digital technologies are looking at more profitable business models opposed to how these changes are going to disrupt their plans.
This digital at the edge concept, if not carefully administered, can leave money on the proverbial table every time. You can miss opportunities that could be vital to your happiness, plus you may not be able to monetise, or even create, the reality that is unfolding. If you want to really transform yourself, and do so over the next few months, you must consider the potential of reinventing your organisation and looking beyond experimentation so that solutions within this ecosystem that are emerging can find their place and define boundaries.
Most leaders are all about transformation, and there are three ways that this digital transition or transformation can be beneficial.
Read the Digital First Blueprint
What the digital giants of today are realising is that there are many other companies emerging onto the scene with digital mindsets that are not so much focused on the disruptions but on setting up things that are entirely new. Incumbents who may have difficulty adapting simply need to stop worrying about changes as these can keep them held down and prevent them from experiencing these new opportunities.
If you want to do this, you must participate in partner and joint venture objectives. Examples of this could be geofencing technology, or the sensors that are in your vehicle that monitor everything, which will help you realize that all of this is really not that risky. Going back to the cars, as the car is driven off the forecourt, the car transporter is going to cause that alarm to sound.
At the same time, it is vitally important for you to disrupt your current way of doing business and incorporate digital assets. When you have a disruption, your first inclination is to look at what your customers are seeing, address any friction and talking points, and begin to help them with the services and products you have available.