As well as the other challenges facing businesses in 2019 and beyond, a particular focus needs to be placed onto digital ethics and data privacy, according to industry analysts Gartner. The firm outlines the top ten coming industry and technology trends in a new report.
The new Gartner document is titled “Top 10 Strategic Technology Trends for 2019” and it takes a look into what might be in store for corporations for the next year. Three of the key trends are discussed below: ethics, privacy and connected and automated technologies.
Business ethics are needed to ensure brand loyalty
The report focuses on the new elements for businesses strategies for the coming year, with the overall message that businesses need to place individuals and society at the forefront. These types of business behaviors are seen as necessary to ensure that businesses retain a competitive edge, especially with Millennials and Generation Z. These demographics are as a whole more in tune with what businesses do in terms of corporate governance, and they will shy away from companies that do not appear to proport certain values or ethics.
For example, the most recent Deloitte Millennial Survey found that those of the Millennials and Generation Z generation place a strong emphasis upon ethical businesses and business leaders showing they care about society.
Many consumers have lost faith in corporations in terms of data privacy. Businesses that can show they place data privacy at the heart of their digital businesses ethics are more likely to keep customers. The signal is that customer attitudes to data privacy and protection are changing fast in both the business and consumer markets.
Consequently, and supported by a recent IBM poll, trust in a company handling data correctly is now a key consumer issue. To achieve a business culture that values data privacy requires appropriate leadership, in order to steer an ethical and transparent approach to data collection, management and use.
Connected and automated technologies
The report also has strong focus on emerging and connected technologies, such as blockchain, which provides a digital ledger that it clear and transparent; and connected services like cloud computing, which are predicated to push more responsibility for driving data back to the end users.
In addition, artificial intelligence remains of interest. AI offers a range of potential uses from assisting with product development to data extraction and analysis. However, the full capabilities of AI in terms of assisting with software development are unlikely to happen in 2019, according to the report.
What is more likely to continue, according to Gartner, is automation, especially in relation to the use of robots to replace the more mundane forms of human activity. This is, however, most likely to continue on a machine-for-person basis. The robotic concept of swarming — where desired collective behavior emerges from the interactions between the robots and interactions of robots with the environment — remains some way off.
While these technologies are useful, the report notes they have yet to achieve their full potential and organizations need to be careful when adopting them. This is because such “technologies and concepts are immature, poorly understood and unproven in mission-critical, at-scale business operations”. The adoption needs to have a firm goal placed central to any digital transformation process.
Mary Anne Moser aiming to put Calgary Science Centre in global top 10
Mary Anne Moser is passionate about creating experiences that make science accessible to mainstream audiences.
Mary Anne Moser is passionate about creating experiences that make science accessible to mainstream audiences. As President and CEO of TELUS Spark Science Centre, Moser is leading Spark’s rejuvenation and her vision is to compete with science centres on a global scale.
[LISTEN IN AT 1:27] “[Spark] has a reputation for being a gym among families in Calgary,” Moser told CollisionsYYC host Tyler Chisholm in a recent interview. “I took the job about a year ago to see if we can expand the audience and really help Spark be more relevant to what Calgary wants to do as a city [and its] innovation agenda.”
To get there, Spark has big plans. In its roadmap for the 2020s, the organization lays out an ambitious plan to become one of the 10 most-worth-visiting science centres in the world by 2025.
Spark has set itself up as both a destination and an organization that seeks a constant infusion of new ideas in order to thrive in an environment of continuous change. In addition to engaging adult audiences, the organization also aims to support the creation of new ventures, jobs and economic opportunities.
Perhaps not what one would expect of a science center.
Raising the bar
As Moser and Chisholm discuss early on in the CollisionsYYC podcast, Calgary remains an under-the-radar destination for tourism and commerce. One of Spark’s goals is to build a facility that’s by Calgarians for Calgarians, as well as a world-class attraction.
Moser has done it before.
In 2013, Moser and science broadcaster Jay Ingram co-founded Beakerhead, a registered charity that works to advance education at the crossroads of art, science and engineering. Beakerhead runs annual education programs and a fall festival named Spectacle that ranked 12th on Bizbash’s Top 100 Events in Canada list in 2019.
Moser says that in order for Spark to “do the heavy lifting that it needs to do for Calgary” and contribute to the city’s economic transformation, the science centre must draw in tourists.
“It’s that tension between being perfect for here and only doable here, and relevant for anywhere on that kind of global scale.”
[LISTEN IN AT 11:04]
The vision to be world-class takes a lot of work and collaboration. Moser believes direct feedback and the attitude of raising the bar would help Calgary’s science and tech communities contribute to a positive future for the city.
“I think setting expectations and holding each other up to them is really important,” said Moser. “If we just cheerlead each other and say, ‘That’s awesome,’ but really, it’s not that awesome, it doesn’t help anyone.”
Honest feedback – coupled with an openness to receiving that feedback – will push standards higher for everyone and help Calgary compete in a global context, says Moser. “It means, when you’re talking to each other, looking behind you and seeing whether or not this would hold up in a global context. It’s so easy to be talking to ourselves but is it a conversation that’s interesting on a global scale?”
Creating space for collisions
The pandemic has thrown up a few roadblocks, but Moser believes it has also shown that Spark is on the right track.
[LISTEN IN AT 4.26]“It’s amplified the need to do what we need to do,” she said. “They say if you start a business when times are really tough, you build a super-strong foundation. For the mandate that I feel like I’ve been given, it’s a test to do what we need to do now in this environment. Failure is not an option, and so it will be that much stronger.”
Strength comes from collaboration, and Spark’s role in the innovation ecosystem is to create opportunities for different fields to interact.
The centre, which closed in mid-March due to the pandemic, recently reopened with a “re-imagined visitor experience” that includes timed tickets and other safety measures. It’s not yet business as usual, but Moser encourages potential collaborators who have ideas for projects, programs, or events to get in touch.
Spark wants to help Calgary’s scientists and technologists communicate about their work in ways that people can understand and get excited about.
“Our doors are not just open – they are wide open, and we are warmly welcoming these conversations, especially with Calgary’s tech sector. We’re there to help build that future.”
The irony of industry disruption and digital transformation ROI
Clearly, return on investment continues to be challenging for most industrial companies.
This post originally appeared on ARC Advisory Group’s website here.
Over the course of the last two years, digital transformation ROI is probably the topic I have been asked about the most. Clearly, return on investment continues to be challenging for most industrial companies.
There certainly are many reasons why transformation ROI is so elusive. Organizations continue to experience missteps with digital transformation strategy. Often, struggles with culture change lead companies to ignore the much more challenging human side of digital transformation.
Most of the examples of poor transformation ROI are really just symptomatic of a tension that prevents success—some industrial companies still have transactional leaders that are too focused on requiring their employees to prove out-of-the-gate ROI on something that has never done before.
This failure in leadership is preventing their employees from accruing the digital wisdom necessary to learn how to successfully transform.
To achieve transformation ROI and sustain digital successes requires a work culture where experiments are not just supported but required. These digital experiments are laboratories where wisdom is gained and core competencies identified and integrated so the organization can become digital-first in its thinking.
Ironically, these transactional leaders now find themselves in the midst of their own unknown and are having to learn along the way.
The total industry disruption brought on by COVID-19 is a mirror (not identical, to be sure) to the uncertainty of transformation. They’ve not seen anything on this scale in their lifetime. They can’t predict the outcome or totality of the financial impact, nor can they define the timeline for return to stability. In fact, they are engaged in their own experiments, trying to determine the best way to drive and sustain success in an environment that requires them to set aside what they used to know and, instead, figure out how to learn along the way.
Now, many of these same transactional leaders are being given leeway, understandably, on short-term earnings projections due to the uncertainty they face. Yet, they never extend that hall pass to their own employees who are struggling to learn what they need to be successful in demonstrating sustained digital transformation ROI.
Too often, these transactional leaders make decisions that put them on the innovation sideline, squelching the very ability of their companies to learn how to respond at speed to market conditions with more agility than their competition. Each time they do so, the implications of their decisions ripple exponentially and negatively, moving them further away from the curve.
To be fair, there are some industrial companies with very good, forward-thinking leaders that understand innovation requires organizational maturity and the relentless pursuit of digital wisdom.
The market bears out the difference between those that seek and grow digital wisdom and those that do not. Every new industrial disruption grows the performance gap between those with leaders committed to change and those that dither by clinging to outmoded ways of decision making. Both will struggle with transformation, of course, because it is a complex and non-linear cultural, technological and economic overhaul of the business and the markets it serves. However, the former will learn how to achieve digital transformation ROI while the latter will stumble along wondering why mistakes, false starts, and dead-end investments are so common with digital initiatives.
What type of leader do you want to be?
This post originally appeared on ARC Advisory Group’s website here.
Michael Guilfoyle is Vice President of ARC Advisory Group. Michael’s expertise is in analysis, positioning, and strategy development for companies facing transformational market drivers. At ARC, he applies his expertise to developments related to Industrial Internet of Things (IIoT) and advanced analytics, including machine learning.
4 ways to plan for the post-pandemic normal
When the crisis eases, we will have entered a new digital normal. Your strategies need to reflect this shift: Consider these factors as you plan for the longer term.
When I sat down to write this article, a follow-on to my previous article on common leadership oversights on the path to digital transformation, the coronavirus’s threat to global business had not reached the magnitude that we feel and see today. In a few short weeks, the pandemic has forced a new virtual work reality on businesses and entire operating models have been shifted – and in many cases, upended.
A business environment that is changing so dramatically and rapidly requires speed, innovation on the fly, and the need to scale thinking beyond anything we might have previously imagined. Now is not the time to back-burner digital initiatives but to ramp them up.
Now is not the time to back-burner digital initiatives but to ramp them up.
When the crisis eases, we will have entered a new digital normal. The strategies we use to run, change, and staff the business will need to reflect this shift. Consider the following factors as you plan for the longer term:
1. The right financials
Any business that isn’t digital by now likely won’t be a business for long. Learning to embrace and adjust is imperative. Continuing – or starting – a digital transformation will be more important than ever, and you’ll need to rethink your business’ capital allocation strategies for digital initiatives and the staffing that supports them.
To figure this out, become best friends with your finance team and think for both the short- and long-term. In the current climate, it can be easy to be either too short-sighted or too far-sighted, but you need to plan for the next week, month, quarter, year, three and five years.
Become best friends with your finance team and think for both the short- and long-term.
Consider how your company may bounce back from the pandemic when stay-at-home orders are lifted, kids go back to school, and consumers begin to mobilize again: We will have entered an entirely different digital world, with new digital expectations from consumers. Is there potential for a rapid and significant surge, followed by a normalization? Will you be facing a slow rise? Digital transformation funds need to be allocated to react appropriately to these various scenarios; staffing discussions should follow based on these decisions.
2. The right tools
It is likely that at least some of your employees will remain virtual, even when the majority can get back into the office. How will you support them? You may have sacrificed some tools or technologies in your move to quickly get employees out of your building and into their homes; you may have also overpaid for the sake of quick deployment.
You’ll need to rework your strategy for the long term. This could include better or more consistent access to networks and servers, the capacity to host formal business meetings online, new portable equipment, virtual collaboration and communication software, and more.
For many, this will require working with your corporate legal team to change their thinking. Where they may have once been risk-averse for the sake of the business, they will now need to take smart risks, also for the take of the business. State your case, find common ground, and move forward.
In some particularly dire situations, you may even need to become comfortable with making decisions first and asking for permission later.
3. The right staffing
You’ll need to continue to make smart staffing decisions – quickly. You likely have three types of talent available:
- Employees who are great at running the business
- Employees who are hungry for more
- New talent that may not yet exist in your business but needs to be brought in
Unfortunately, this global crisis may have created gaps in your workforce.
Identify the individuals in the first two groups and work with your talent management team to assess whether you need to advance digital investments previously planned for. Do these individuals have the right type of skills for their teams? Are they collaborative and communicative? IT cannot work in a silo, and team members need to be able to communicate what they are doing and why, and be clear on how their actions are aligned to larger goals.
When you’ve completed this review, identify the additional skills you will need for the future. This might include teams familiar with building out cloud deployments or working with microservices, etc. Push the rest of your leadership team to break through capital allocation constraints to bring in new employees who not only have the right experience but also can quickly teach your existing teams on new tools organically.
4. The right brand permission
As you work through your accelerated digital transformation, you’ll start to think about your business as a truly digital brand. In fact, you might already think so, simply because you’ve been able to get your staff up and running remotely.
But is this the perception all your stakeholders have? According to the Yale School of Management, “Brand permission defines the limits of customers’ willingness to accept a familiar brand name in new marketplace situations.” For example, you can’t simply say, “We are digital now, world!” and expect your market to immediately accept that if you haven’t been digital historically. You need to earn this right.
You can’t simply say, “We are digital now, world!” You need to earn this right.
Brand permission is something you and the rest of the company will need to work on – largely focused on delivering useful and impactful digital products and services – in order to attract the new talent you need. Start thinking about this now.
The global pandemic has thrown us into an entirely new world. Business leaders can no longer rest on their laurels and, certainly, can no longer put off or draw out a digital transformation. Making the right decisions now will help to ensure your business is positioned well when this crisis passes.
As Chief Digital Officer of Agero, Bernie Gracy brings more than 30 years of technology experience helping drive new product/platform introduction, client delivery, and the establishment of new software-enabled business models.
In his role, Gracy is responsible for all aspects of product and technology development, architecture, infrastructure, and innovation for a rapidly evolving ecosystem powered by digital, mobile, the cloud, location-based services, and IoT.
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