While there exist a lot of technology suites that are apparently going to be transformative, few such

Business transformations really work out. Business intelligence provided by IDC claims that only thirty percent of such transformative exercises will work out in 2018. Even worse, in a study anchored by Oxford Economics with SAP, CEOs admitted that barely three percent of all such schemes really work out. This is because business leaders do not really focus on ways to transform, instead believing that this new technology will be the panacea for all problems. They focus more on ensuring lower level and middle employees are ready to take on the age of automation. Closer to home, if they were to focus on their own executive levels, they will see a shocking lack of hands-on approach towards new technologies. A survey by PwC proves this with seventy percent of CEOs polled claiming a lack of trust on senior leaders’ tech abilities. Quite clearly, Siri or Echo do not feature very highly on their compatibility list. This skill upgrade has even been mentioned in the annual summit of the World Economic Forum. Specific corporate training sessions need to be imparted to senior executives to bridge this untenable gap. Skills to contextualize data are needed. A rethinking of corporate roles and management procedures will also need to be thought out.

Source:https://www.strategy-business.com/blog/The-Need-for-Digital-Know-How-Starts-at-the-Top?gko=bb0fb

Uploaded Date:27 February 2018