Digital transformation is the driving force behind business innovation and advancements in emerging technology are accelerating organisations at an exceptional rate. Never before has it been more critical to modernise and adapt existing business models to meet the demands of changing economic, regulatory, political and digitally-oriented landscapes.
In an increasingly digital world, new and transformative technologies are rapidly entering the workplace to help businesses adapt to virtual team communication, enabling them to innovate and thrive. What’s more, customers and clients are also looking for new and improved digital experiences and services. This means that when it comes to delivering a customer-centric digital experience, more and more organisations need to leverage technology solutions to optimise their current processes and systems.
Emerging technology presents organisations with immediate opportunities to generate new business and revenue. However, they present their own challenges and triumphs when it comes to deployment. Some that have achieved the most critical acclaim include:
According to Accenture, 84% of C-suite executives believe they must leverage AI to achieve their growth objectives. AI technology’s advanced processes and automation capabilities has revolutionised several industries by allowing organisations to prioritise scaling their business and:
On a business level, AI can take large amounts of complex data and determine patterns and insights which can be turned into models to create and predict customer behaviour. For insurance and finance particularly, AI can be applied to reduce the risk of fraud by better understanding the patterns of previous customers.
Ecommerce and online transactions now dominate the economy as the preferred method of consumerism for a wide range of products and services. This means there is a critical need to secure and manage transactions on the internet. Blockchain can support this need by allowing big companies to monitor and move any number of assets around the world as easily as sending an email.
According to PwC, in a survey of 302 representatives from banks, insurance companies and asset managers:
There has been a rise in virtual communication tools such as Zoom, Skype, Microsoft Teams and Slack for instant messaging, as organisations move to more hybrid models of working. File sharing tools and time management apps have also increased and have been adopted by many businesses to ensure they evolve in keeping with the ever-changing working landscape.
As the remote workforce continues to grow, online conferencing software has become one of the most important virtual team communication tools. With remote work here to stay, statistics from Hubspot highlight the benefits of giving employees more flexibility to work from anywhere as:
Quantum computing can solve complex problems by analysing huge amounts of data and exploring an enormous set of possibilities, helping business to identify an optimal answer that could drive business value. Quantum computing has the potential to fundamentally change the world of computing as we know it by building more intuitive, smarter machines and is increasingly on the rise.
According to AI Multiple’s market size focus:
With a shift to remote working, almost every successful business will require a project management tool to handle tasks, track time and manage workload. There have been significant advancements in technologies designed to improve project management and virtual collaboration amongst remote teams that streamline processes such as:
This ensures the completion of projects to budget and within timeframes, helping remote teams coordinate effectively. Examples of effective project management tools are Trello, Waterfall, Asana and Agile.
According to Sasslist, only 21% of companies have standardised project management systems like these in place. Additional statistics show the value of these tools lies in addressing:
(sources: Gallup, Wellingtone, PMP Gartner, PMI, UM Saint Louis)
Whilst the value of implementing and optimising technology systems is clear, the challenges many organisations also face may seem monumental. However, some clear takeaways for a smooth digital transformation or organisational change programme include:
Whether you require the skills and expertise for an urgent technological transformation, or have a need to drive a culture change, or to face a new challenge like growth into a new market, interims are a highly valuable, knowledgeable and cost-effective resource that can help implement change throughout your organisation.
JSS are experienced at supporting clients as they navigate change and digital transformation. Our Interim Solutions services ensure the rapid provision of senior executives and functional experts, deployed to help manage change, work instinctively in a crisis and support business critical projects through to delivery.
Whether you’re hiring your next executive, building a fit-for-purpose finance function or delivering a project to transform your business, we will find the people that will help you deliver value and deliver results. That’s our commitment.