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The pace of innovation continues to accelerate. New ideas, products, and services are brought to the market faster than ever, and product lifecycles continue to shrink. As consumers demand more speed and simplicity, technology becomes essential in providing delightful experiences. It is worth mentioning that the real purpose of technology is to augment and amplify human capabilities, not to replace them. Technology should ultimately help us run better and improve lives.
Companies are looking to use digital solutions to innovate their business to:
• Target developing markets
• Build stronger customer relationships
• Create new revenue streams
• Avoid being disrupted
Digital transformation is the formal effort to create new customer experiences, business models, and value. This transformation is a continuous and iterative process. It is focused on staying ahead of everchanging trends that can deliver tremendous value.
Digital transformation can only be successful if organizations are proactive in disrupting their own business. If they do not, someone else will. How can innovation happen before a crisis? How do you keep the balance between running the company and transforming it? How would you organize your business and workforce to deliver that transformation?
Companies are willing to develop the ability to deal with change as a routine part of the business and move from a complex, rigid enterprise to an agile one with flatter hierarchies. They are fundamentally changing their focus from product and service innovation to driving outcomes that provide value by delighting their customers and the organization overall.