Unsurprisingly, in the ongoing digital age, tech firms have a substantial advantage. Just to cite some figures, a decade back, there was only one tech firm among the top ten, but today seven of the ten largest are those to do with technology. This figure is further skewed on metrics that point towards the future. At the Fortune Future 50 for instance, more than half of the top twenty-five and three-fourths of the next twenty-five are tech companies. Digital natives have cut swathes into profit margins of traditional industries. Thus, even the non-tech firms have started digitizing in a big way in or der to future-proof themselves. This is to satisfy the twin aims of automating supply chains and innovating by developing digital products or service offerings. This has spawned autonomous systems enabled with learning advantages to leverage platforms, business analytics, data sources, artificial intelligence among others. These systems can outdo traditional systems in learning terms. In turn, that has led to the proliferation of data warehousing operations that can provide curated, personalized services for customer segments. The Triple-Loop Learning model has harnessed the power of three processes- experimentation, modulation and shaping. The mindset of industry incumbents needs to veer towards these newer processes, such as by creating integrated learning systems. Far from snatching away human jobs, digitization seeks to ensure that people perform high-level creative tasks. The complex and unpredictable biological model of running organizations needs to be adopted away from the traditional top-down approach.

Source:https://www.bcg.com/publications/2018/reinventing-enterprise-digitally.aspx

Uploaded Date:01 March 2018