- Digital transformation is closely intertwined with innovation and disruption in an organization. While executive buy-in is critical to support these endeavors, investments by and empowerment of other leaders and teams help make an organization successful, according to a TIBCO survey of more than 600 business executives.
- More than two-thirds of organizations are still reaching for "digirati" — or expert — digital transformation maturity. Maturity is a key driver of innovation and disruption, with digital experts using their digital capabilities 70% of the time and conservatives more than half of the time. Digital beginners, on the other hand, use digital capabilities just 20% of the time.
- A business' maturity and innovation ties in to what technologies it is using. Digital experts are harnessing internet of things and blockchain at more than double the rate of digital beginners, and artificial intelligence and machine learning at more than triple the rate, according to the report. Cloud, business intelligence and analytics, and application and data integration technologies were also highlighted as foundational technology for innovation strategies.
Successful digital transformation needs executive buy-in and empowerment of IT professionals throughout an organization. Many technologists still feel as if they are only brought in when something goes wrong, but promoting their work on value-add projects for the business and strengthening the influence of technical leaders can mitigate such concerns.
Many organizations are still stuck modernizing pieces of their business instead of digitally transforming critical platforms and functions. Some businesses didn't pick a point far enough out on the horizon, and still have to reinvent their business with data at the core.
Executives that move past the growth versus cost mindset and focus on rebuilding technologies and creating new business platforms will be more successful, according to Richard Davies, managing director at Leading Edge Forum and digital general manager at DXC Technology, in an interview with CIO Dive in January.
While spending on information technologies is expected to continue increasing, some market conditions such as the U.S.-China trade conflict are limiting companies' abilities to increase technology budgets and invest in key areas of digital transformation and technologies like AI and analytics.