DON'T GET LEFT BEHIND IN THE RACE TO DIGITAL INNOVATION

Introduction

Nowadays, digital innovation (DI) is transforming companies at an accelerated pace. In essence, DI is about designing disruptive business models to solve complex problems and provide value to stakeholders. It combines technology, people, processes and data to provide value by elevating the customer experience. It can be built according to the way companies operate, engage or interact within their ecosystem of customers, partners and suppliers.

Organizations must evolve if they want to survive in the digital age because the impact of technology can not be ignored. So, I see DI as a race, but having said that, one should not stop seeing it as a trip too. Identification requires careful planning of resources, investments, milestones, the choice of technology and the most important implementation throughout the company.

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While technology allows change, in fact, it is the main catalyst for achieving great transformation goals, ultimately depending on whether employees accept it. In 2018, we see how organizations take the leap of faith, focus more on retraining their employees, developing leadership or hiring digital expert leaders because it is the Digital Digital Director or the Director of Innovation together with the CxO suite that will have to boost momentum.

Companies that have already demonstrated their success through identification can look for more opportunities to scale more quickly or industrialize the digital model within different functions.

We recently completed a joint study with 400 global companies on the state of automation and AI worldwide, led by one of the leading analysts.

The study indicates that 80% of the C-Suite company required automation and artificial intelligence as a strategic priority. Although 98% of respondents had an automation agenda, 70% of clients plan to implement RPA in the next two years and more than 50% believe that the IA will be applied to a broad set of processes within the same period.

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The industries that have quickly adopted DI are the insurance followed by banking and financial services. Retail and telecommunications have accelerated the pace. All transaction-intensive industries are interested in eliminating redundant tasks and large companies strive to be more agile.

In what position is your company with respect to DI? My advice is that organizations need a DI plan if they want to survive in the digital age because the impact of technology can not be ignored. It can be like Uber and transform a complete industry, improve your business on the road or you can maintain the status quo and hope for the best.

This guest blog is from Chinmoy Banerjee, executive vice president and head of BPS Global at Hexaware Technologies. Hexaware uses disruptive technologies such as Robotic Automation, AI, ML, NLP, Virtual and augmented reality to integrate the back office or front office processes of the company, reduce operating costs and improve the customer experience.

Conclusion

The views on this blog represent the opinion of the contributor and do not reflect the views of Automation Anywhere.

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