What Successful Digital Transformations Have in Common | HBR

December 28, 2017

We found six important and statistically robust factors that predict the probability that an incumbent company will choose the path of being a reinventor. They are, in order of importance:

1. Obsess about turbulence on the horizon
2. Understand all risks, not only those from startups
3. Deliver a dual offensive: core and diversification
4. Fix leadership skills first
5. Prioritize demand-centered business play
6. Experiment with frontier technologies

Source: What Successful Digital Transformations Have in Common | HBR, Jacques Bughin & Tanguy Catlin, December 19, 2017

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The growing power of disruption and technology

December 22, 2017

“Our world is in transition from a model of business we are familiar with to one that is in many instances still undefined,” added Uschi Schreiber, EY’s global vice chair for markets and chair of the firm’s global accounts committee.

“The pace of change is unprecedented. Too many CEOs and boards are still focused on only one thing: short term efficiency and productivity improvements. But what’s needed is also a focus on the medium term and on building the future,” he said. “This requires not just the use of up-to-date technology; it also means investing in innovation and being prepared to take some risks. Thinking and operating in duality can help corporations to seize the upside of disruption by focusing on their current success and growth as well as building the foundations for growth in the future.”

Two-thirds of respondents to Deloitte’s poll for that report associate technology advances with new opportunities and positive outcomes, with “emerging technologies” integral to the playbooks of private companies.

Source: The growing power of disruption and technology, Sean Kilcarr, December 20, 2017

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Digital Transformation. Many can talk about the “why”. Few can talk about the “how”. Here’s “How” | LinkedIn

December 22, 2017

For companies to build value and provide compelling customer experiences at lower cost, they need to commit to a next-generation operating model. This operating model is a new way of running the organization that combines digital technologies and operations capabilities in an integrated, well-sequenced way to achieve step-change improvements in revenue, customer experience, and cost.

Source: Digital Transformation. Many can talk about the “why”. Few can talk about the “how”. Here’s “How” | LinkedIn, Hans Casteels, December 20, 2017

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How blockchain will underpin the new trust economy | Computerworld

December 19, 2017

“The blockchain/trust economy trend represents a remarkable power shift from large, centralized trust agents to the individual,” Deloite stated. “And while its broader implications may not be fully understood for years to come, it is hardly a death knell for banks, credit agencies, and other transactional intermediaries. It may mean, however, that with blockchain as the gatekeeper of identity and trust, business and government will have to create new ways to engage the individual – and to add value and utility in the rapidly evolving trust economy.”

Source: How blockchain will underpin the new trust economy | Computerworld, Lucas Mearian, December 7, 2017

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From bots and AI to counterfeit reality and fake news, Gartner’s top predictions for 2018

October 20, 2017

3. Legitimized Cryptocurrencies

By the year 2020, the banking industry will derive $1B of business value from the use of blockchain-based cryptocurrencies — When compared to the estimated $7.6 trillion that is the industry gross output of the world’s banking industry, $1 billion may not seem like much. However, the value is more about the tacit endorsement of cryptocurrency as a legitimate option by the banking industry. With the legalities of cryptocurrencies also being worked on and more than 900 cryptocurrencies on the market, the banking endorsement could open doors to other industries.

Source: From bots and AI to counterfeit reality and fake news, Gartner’s top predictions for 2018, Daryl Plummer, Gartner, October 17, 2017

Thanks, Laurent!

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What Your Innovation Process Should Look Like | HBR

October 11, 2017

When organizations lack a formal innovation pipeline process, project approvals tend to be based on who has the best demo or slides, or who lobbies the hardest. There is no burden on those who proposed a new idea or technology to talk to customers, build minimal viable products, test hypotheses or understand the barriers to deployment. And they count on well-intentioned, smart people sitting in a committee to decide which ideas are worth pursuing.

Instead, what organizations need is a self-regulating, evidence-based innovation pipeline. Instead of having a committee vet ideas, they need a process that operates with speed and urgency, and that helps innovators and other stakeholders to curate and prioritize problems, ideas, and technologies.

Source: What Your Innovation Process Should Look Like | HBR, Steve Blank, Pete Newell, September 11, 2017

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