We have arrived at a significant moment in time – the dawn of the fourth industrial revolution.
This new era builds on the landmark breakthroughs of the technological age that began in the middle of the 20th century – mass scale computing, unprecedented processing power, computer storage, the rise of the internet, etc. – by blurring the lines between physical, digital, and biological frontiers. It will fundamentally alter the way we live, work and relate to each other.
Capitalising on this phenomenon is the key to innovation and growth. From the rise of AI, machine learning, chatbots and the Internet of Things, to the mountains of data, mixed reality and the next frontiers, the challenge for businesses will be to harness the disruptive force of technology to shape their own destiny. Naturally, this comes while navigating the expectations of a changing workforce, addressing evolving cyber security threats, and managing a host of other challenges.
In response, companies are embarking on digital transformation journeys that are creating huge opportunities. But digital transformation is not simply about technology. This transition to the fourth industrial age is shaping entire business strategies. Indeed, Microsoft study reports that nearly half of all UK leaders believe that their business models will cease to exist within the next five years. The threat of disruptors entering new markets and reshaping entire industries is also very real with more than half of all organisations expecting disruption to impact their industries within the next two years. These are core business challenges requiring urgent attention.
So, disruption is very real and heading straight for us. How will businesses and other organisations react? They will need to fully grasp the concept of digital transformation and its potential to more effectively engage customers, empower employees, optimise operations and transform products and services. Microsoft report suggests that many organisations are still limiting the scope of their digital transformation strategies to customer experience and operational processes. This is a missed opportunity – digital transformation should be regarded as a transformation of business culture in a digital age. This requires leaders to re-envision entire business models and embrace a different way of bringing together people, data, and processes to create value for their customers. But how do you transform for success in the future while running your business today?
To better understand how UK organisations are thinking about disruption and their own digital transformation journeys. Please get in touch with one of our Microsoft Certified Professional to discuss your business options for digital transformation.